Market Downturn: 10 Equity Mutual Funds Faced Heavy Losses In October 2024
In October, over 10 equity mutual funds faced losses exceeding 10%, reflecting a challenging month for equity markets. Out of 518 equity schemes during this period, delivered negative returns.
The market’s volatility impacted various sectors, underscoring the importance of a diversified investment approach and cautious portfolio management. Investors are advised to stay informed and consider long-term perspectives amongst such fluctuations.
1. SBI Automotive Opportunities Fund
This fund is known for its investments in the automotive sector, which suffered due to subdued demand and supply chain distribution.
SBI Automotive Opportunities Fund faces the largest decline among equity mutual funds, dropping approximately 12.46% in value.
2. Aditya Birla SL Transportation & Logistics Fund
Aditya Birla SL Transportation & Logistics Fund focuses on companies within the transportation and logistics sectors, which were hit hard by fuel price fluctuations and global economic uncertainties. This fund lost 12.27% during the period.
3. UTI Transportation & Logistics Fund
This fund also struggled in October due to a rise in costs and diminished margins on transportation companies. This fund lost around 11.73% during the period.
4. HDFC Transportation and Logistics Fund
HDFC Transportation and Logistics Fund invests in companies tied to transportation and logistics, sectors that are sensitive to macroeconomic conditions. This fund lost around 11%, respectively, in the mentioned period.
5. ICICI Prudential Transportation Fund
This fund also concentrates on transportation-focused companies, which faced a decline due to the global downturn in high fuel prices and economic activities. This fund lost around 10.59%, respectively, in the same period.
6. Bandhan Transportation & Logistics Fund
This fund primarily focuses on investing in the logistics and transportation sectors. Bandhan Transportation & Logistics Fund faced a decline as logistics firms reported reduced volumes and higher operational costs. This fund lost around 10.15% respectively, in the mentioned period
7. Quant PSU Fund
The Quant PSU Fund, focused on Public Sector Undertakings (PSUs), particularly in the infrastructure and energy sectors, saw its value drop significantly in October, around 11.44%. Rising interest rates and global market uncertainties have placed stress on PSUs’ profitability and growth prospects, directly impacting the fund.
8. Quant BFSI Fund
The Quant BFSI Fund, which focuses on banking, financial services, and insurance (BFSI) sectors, experienced a decline amid volatility in the banking sector. This fund lost around 10.14% during the period.
9. Mirae Asset Greate Consumer Fund
The Mirae Asset Great Consumer Fund, which invests in consumer goods companies, struggled because rising prices affected how much people could spend. This fund lost around 10.15% respectively, in October.
10. Nippon India Consumption Fund
The Nippon India Consumption Fund, which invests heavily in consumer-focused stocks, was affected by inflation. This fund lost around 10.05% during the period. As a result, demand for non-essential goods dropped, hurting companies that rely on consumer spending and causing the fund’s value to decrease.
